Older Americans faced more financial challenges during Covid than in other wealthy nations

In survey, 19% of US adults 65 and over reported using their savings during pandemic - the highest percentage of 11 wealthy countries

Older Americans were more likely to suffer pandemic-related economic difficulties compared with older citizens of other wealthy countries, according to a new survey from the Commonwealth Fund.

In a survey taken by adults 65 and older in 11 of the world's wealthiest nations, 19% of US adults reported using up all or most of their savings or losing sources of income during the pandemic - the highest percentage of any country. The percentage is nearly seven times higher than Germany, where 3% of older adults reported economic difficulties.